Perpetua Resources Corp. (NASDAQ:PPTA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Perpetua Resources Corp. (NASDAQ:PPTA) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $35.4167.

PPTA has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Perpetua Resources in a report on Tuesday, April 21st. B. Riley Financial boosted their price target on shares of Perpetua Resources from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Zacks Research raised shares of Perpetua Resources from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, HC Wainwright boosted their price target on shares of Perpetua Resources from $41.00 to $43.50 and gave the company a “buy” rating in a report on Tuesday, May 26th.

Insider Buying and Selling at Perpetua Resources

In other Perpetua Resources news, insider Jonathan Cherry sold 4,079 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $29.31, for a total value of $119,555.49. Following the sale, the insider owned 44,895 shares of the company’s stock, valued at $1,315,872.45. The trade was a 8.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mckinsey Margaret Lyon sold 8,699 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $29.53, for a total transaction of $256,881.47. Following the completion of the sale, the insider directly owned 142,329 shares in the company, valued at $4,202,975.37. This trade represents a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Perpetua Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. increased its holdings in Perpetua Resources by 40.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,581,234 shares of the company’s stock valued at $92,678,000 after buying an additional 1,318,008 shares during the period. Vanguard Group Inc. grew its holdings in shares of Perpetua Resources by 65.1% in the 4th quarter. Vanguard Group Inc. now owns 3,157,670 shares of the company’s stock worth $76,447,000 after purchasing an additional 1,245,630 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Perpetua Resources by 3.0% in the 4th quarter. Van ECK Associates Corp now owns 2,925,672 shares of the company’s stock worth $70,831,000 after purchasing an additional 85,126 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Perpetua Resources by 3,107.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,910,833 shares of the company’s stock worth $70,471,000 after purchasing an additional 2,820,067 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Perpetua Resources by 12.1% in the 4th quarter. State Street Corp now owns 1,474,406 shares of the company’s stock worth $35,695,000 after purchasing an additional 159,633 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.

Perpetua Resources Stock Performance

Shares of PPTA stock opened at $24.09 on Monday. Perpetua Resources has a 1 year low of $11.68 and a 1 year high of $37.37. The firm’s fifty day simple moving average is $28.02 and its 200 day simple moving average is $28.61. The firm has a market capitalization of $3.01 billion and a P/E ratio of -18.25.

Perpetua Resources (NASDAQ:PPTA) last announced its earnings results on Monday, May 11th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.21). Equities research analysts anticipate that Perpetua Resources will post -1.42 EPS for the current fiscal year.

About Perpetua Resources

Perpetua Resources Inc (NASDAQ: PPTA), formerly known as eCobalt Solutions Inc, is a mineral exploration and development company focused on critical metals that support the global clean-energy transition. The company’s primary objective is to advance its flagship Idaho Cobalt Project, a permitted underground mine located near Stibnite, Idaho. This project is designed to produce cobalt, copper, gold and silver, with an emphasis on providing responsibly sourced materials to North American battery and technology markets.

In addition to its Idaho Cobalt Project, Perpetua Resources holds exploration licenses and mineral tenures across the United States and Canada.